CARE vs MBWM: Correlation
How closely do Carter Bankshares, Inc. (CARE) and Mercantile Bank Corporation (MBWM) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARE and MBWM?
On 3 years of weekly data the CARE/MBWM correlation comes out at 0.74, strong. The past 12 months show a weaker link (0.59) than the 3-year average (0.74). The 5-year figure is 0.66, and annualized covariance runs at 676.9 %².
By 3-year correlation, MBWM places #4 of the 14 assets tracked against CARE. The last year tells two different stories: CARE led by 42.0 percentage points, +65.7% for CARE against +23.7% for MBWM.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CARE vs MBWM: side by side
| CARE (Carter Bankshares, Inc.) | MBWM (Mercantile Bank Corporation) | |
|---|---|---|
| 1-year return | +65.7% | +23.7% |
| 5-year return | +167.6% | +126.2% |
| Volatility (ann.) | 30.7% | 29.8% |
| Beta vs S&P 500 | 0.64 | 0.82 |
| Max drawdown (3Y) | -31.7% | -25.0% |
| Market cap | $0.7B | $1.0B |
| P/E (trailing) | 5.5 | 10.5 |
| Dividend yield | 0.32% | 2.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARE | MBWM |
|---|---|---|
| 2022 | +7.8% | -0.8% |
| 2023 | -9.8% | +25.8% |
| 2024 | +17.5% | +14.0% |
| 2025 | +11.8% | +11.7% |
| 2026 | +64.1% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARE and MBWM good diversifiers for each other?
Only partially. A correlation of 0.74 means CARE and MBWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CARE and MBWM?
Using weekly returns as of 2026-08-27: 0.74 over 3 years, with 0.59 over the last year and 0.66 over 5 years.
Is MBWM a good diversifier for CARE?
Only partially. A correlation of 0.74 means CARE and MBWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
A reading of 0.74 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CARE correlations · MBWM correlations
